"Sarraf, who was accompanied by
senior company executives, told Naidu that the state-owned oil and
gas explorer aims to extract 25 million standard cubic meters per day
(mmscmd) gas in KG Basin by 2018 and would also look into the
exploration of oil by 2019", Andhra Pradesh government said in a
statement.

"The Chief Minister asked the ONGC
officials to expedite the exploration process and ensure that
substantial number of jobs (direct and indirect employment) are
provided to locals", the statement added said.

The ONGC executives informed the chief
minister...

that they are keen on being partners in Petro University
with other stakeholders, proposed in the state.

"ONGC would also invest
"substantial amount" in Corporate Social Responsibility
(CSR) initiatives in Krishna, East and West Godavari districts in
partnership with Andhra Pradesh State Skill Development Centre",
the statement said.

One of their CSR initiatives includes
partnering with deep-water skill development centre in Kakinada, in
cooperation with JNTU Kakinada.

Secretary (Energy) Ajay Jain and other
officials also attended the meeting.

ONGC, the multinational Maharatna PSU
has a sizeable presence in the South. The country's flagship energy
major is engaged in exploration and production of oil and gas in
India and abroad.

A global player in energy, it
contributes about 69 percent of India’s domestic oil and gas
production. Currently, ONGC through its subsidiary ONGC Videsh Ltd.,
is India’s largest transnational corporate with overseas investment
of over $10 billion in 16 countries.